Being the largest commercial and industrial market in the country, Chennai is growing at a steady pace. With the increase in the number of IT companies, education and automobile sectors along with other major industry players venturing into the state, the economic and social infrastructure has developed immensely, that has further led to the rise in the real estate market in Chennai.

Interestingly, the real estate sector in the city has been experiencing the rise in property demand from the end user side. This change in demand is due to the establishment of various MNCs, corporate headquarters as well as several manufacturing and machinery units. The establishments have further increased the standard of living, average cost of capital of the city and the purchase power of the inhabitants.

The demand mostly comes from the professionals working in the corporate sector and then from the self employed professionals. In terms of housing preference, apartments wins the race. Apartment ranging between Rs 30 to Rs 50 lakh is seen mostly to be in demand.

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Areas like Mylapore, Perumbakkam, Poonamallee, Porur, Ashok Nagar, Perambure, OMR road are witnessing a high demand in the property. With notable developers such as Tata Housing, Case Grande Private Limited, Pacifica Group and many more offering best-in-class properties like Tata Santorini, Casa Grande Cherry Pick, PacificaAurum among others, located at prime location in an attractive price range and equipped with the best required amenities and utilities, buyers are more interested in buying properties for staying purpose.

However, it is quite prominent that the city is in its expansion mode with some major plans in the pipeline to develop the infrastructure. The strategy of setting up smart cities, along with forthcoming Mass Rapid Transit System, Metro connectivity as well as the Chennai-Bangalore Industrial Corridor project, all of these will work in favour of the rising sentiments of the Chennai real estate market. This evolving strategy for development will also encourage job opportunities, referring to the rise in earnings and most prospective home buyers. Therefore the developers can definitely expect an increasing number of end users for the housing demand.

The much awaited Delhi election is likely to fetch a lot of positive developing features in Delhi. With one of the main agenda of this election to make this city worth of living, Delhi real estate industry plays a crucial role in this. To initiate towards this step, the government need to focus on developing infrastructure, improving the basic amenities and smoothed the legal processes to encourage new projects in Delhi property market as well as buyer’s sentiments to buy those projects. In return , all these steps will also help in improving the current state of property in Delhi.

Here are the few factors which can be fruitful for the Delhi real estate sector.

Strengthening Urban Infrastructure

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In a bid to make Delhi a ‘world’ class city, the urban infrastructure needs a major boost and upgradation in terms of proper water facility, traffic control system, flyovers, free wi-fi along with proper women safety. This measure counts big way in developing in real estate sector in any place. Better arrangements for healthcare, installation of CCTVs for security purpose along with proper transportation facility also add on to these points. If all these factors are taken care of and are implemented, then Delhi can be an ideal choice for prospective buyers, investors and real estate developers.

Regularising of Unauthorised Colonies

In today’s time there are a large number of people who are not able to buy property due to high price range. But as the government has already announced the plan for regularising several unauthorised colonies, prospective home buyers can take a sigh of relief in terms of the price. Then the regularisation will enable home loans as well in the unauthorised colonies, which will be again beneficial for the buyers to invest in those areas. This initiative will also be a step forward in PM’s vision for ‘Housing for All by 2022. Also, if the norms in property registration are further relaxed and the process is made easier, then nothing can better for the Both parties.

Clean and healthy Delhi

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Moreover, extending PM’s another mission to make India clean named as ‘Swacch Bharat’, the government needs to build effective sewage and drainage system to prevent water logging and to promote hygiene along with waste management and toilets in every home. These are the basic requirements for any buyer to buy their dream home and an essential factor responsible for the growth of real estate sector.

Lastly, it is needless to say that if the government can put an extra effort to look at all these concerns, in order to make Delhi at par with the international standards, then the real estate industry will get a boost and every citizen can have their own home.

‘Green’ seems to be the latest buzz word, in the real estate scenario. Developers are making green homes and green centric complexes. However, basically Green Homes refers to the environment friendly and sustainable homes, which focuses on using environmentally friendly or recycled materials and appliances such as paints and also make use of energy and water efficiently. The main concept of the green homes remains to conserve energy, improve the air quality inside the house and producing less waste. It is also one step forward to keep the planet safe.

What to do?

In order to achieve this you can buy energy-efficient appliances, replacing plastic with paper or using specific kinds of materials which help in balancing the cold and hot air inside the home. These might be a bit on the costly side, but there are a few changes which will not hurt your pocket that much. Making a green home will also lead to some changes in your lifestyle, but the change will be definitely healthier for you and your family.

Lighting
Starting with lighting, you can replace normal bulbs with LED bulbs. Normal bulbs are responsible for electricity wastage and creates lots of heat, which in turn increases the room temperature and results in more usage of fans and air conditioners. Whereas opting LED bulbs will be a good decision because it saves energy, last longer, creates less heat and saves a lot in your electricity bill.

Basic restructuring

Then you can mount a low-flow toilet as with every flush it helps in saving 12 to 15 liters (approximately) water. Next, you can fit your water taps with an aerator, a great method for water conservation. It basically does not let the water stream splash, saving almost half the water getting wasted during normal consumption.

Paint
Most of our houses are not equipped with Eco-friendly paints due to lack of knowledge or the high cost involved. But the cheap grade of paints the we usually have in our houses consists of harmful chemicals and other unhealthy constituents, which leads to carious infections and allergies. Thus, you should choose water based paints or those which does not comprise of Volatile Organic Compound (VOC). These paints nowadays are easily available in any store.

Following these measures that can help to make your home more green friendly and moreover can keep your family healthy and more closer to the nature.

For any individual, buying property is a big investment, even if it for the nth time. There are certain precautions that need to be exercised before choosing the property to invest in. Here are a few pointers for you to look out when you buy property.

1. Checking for approvals

Unless a builder obtains all the necessary approvals, it can lead to delay in property development and may even force the developer to terminate the project which would be a big loss to a buyer. You should also look into the land ownership deed on which the property is being developed. To verify the land ownership status, you should check the letter of allotment in case it was purchased from a public agency.

2. Written Agreements

Do not settle for anything less than a written agreement with a builder. The agreement must bear the specifications of the flat and the associated conditions and terms including delivery time, payment plans and penalty required to be paid in case of default of either party. Hidden costs shall also be taken care of.
Check the occupancy certificate in case you are purchasing a flat in a completed residential community along with fire safety mechanism and equipment, electricity connections, property tax receipts and water supply. In particular, checking the occupation certificate is imperative because it certifies that the building is suited for living and complete. Not only has it gotten all approvals needed but has adhered to building bylaws and norms.

3. Bank Loan

Most buyers rely on bank loans when buying real estate. Borrowers usually put up the apartment being constructed as collateral when taking out a house loan and banks thoroughly check the builder’s credentials apart from other aspects. They do so to ensure that the collateral’s market value does not reduce. There are quite a few projects which are approved by financing institutions like NBFCs and banks. You should approach those banks for loans with which the project partners collaborate.

4. Reputation of the Builder

The developer’s financial soundness must be verified as it shall indicate his ability to complete the construction in the absence of external borrowings. A developer must have a track record which is traceable as it will act has a reference point for under construction projects and new launches. The projects delivered by builders and time needed for each delivery must be considered. It is also essential to know about the involvement of the developer in legal feuds for making judicious purchasing decision.